Current Account in Luxembourg
Luxembourg - Current Account (billions of Euros)The Covid-19 pandemic and associated containment measures hammered the economy at the end of the first quarter, and worse is to come in the second quarter. Data indicates a drop in economic activity of 25% in 23 March–17 April, covering the first month of lockdown. Moreover, both consumer and business sentiment collapsed to over one-decade lows in April, while the unemployment rate rose to the highest level since February 2015 in the same month. Since mid-April, many restrictions are being lifted to reboot the economy, while the government announced on 20 May a new set of fiscal measures worth around EUR 800 million (around 1.3% of GDP), on top of the 16.4% of GDP package previously put forward. Among others, the additional measures include structural partial unemployment benefits for affected businesses and grants to firms in sectors which have not yet been allowed to resume activity, such as the tourism and hospitality sectors.
Luxembourg - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||2.6||2.6||2.7||2.8||2.9|
5 years of economic forecasts for more than 30 economic indicators.
Luxembourg Current Account (EUR bn) Chart
Source: Central Bank of Luxembourg and FocusEconomics calculations.
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 6, 2020
Consumer prices fell 0.1% over the previous month in April, following the 0.6% decrease logged in March.
April 20, 2020
In March, the number of unemployed workers came in at 18,398, which was up 10.5% from February’s figure of 16,652 and largely reflected government containment measures due to the Covid-19 pandemic.
April 3, 2020
Consumer prices fell 0.6% over the previous month in March, contrasting February’s 1.3% rise.
April 1, 2020
In April, the number of unemployed workers came in at 20,253, which was up 10.1% from March’s figure of 18,398 and reflected the impact of the Covid-19 crisis on employment.
March 20, 2020
Growth accelerated to 3.1% year-on-year in the fourth quarter of 2019, up from the third quarter’s downwardly revised 2.8% expansion (previously reported: +3.0% year-on-year) and marking the strongest expansion since Q2 2018, according to a first estimate released by the Statistical Institute (STATEC) on 20 March.